Mergers and acquisitions company focusing on growing public safety and technology-based firms, ILUS International (OTCMKTS:ILUS), on September 15, 2022, confirmed signing Letters of Intent to acquire two wildfire equipment manufacturers.
Trading Data
On Thursday, ILUS stock fell 3.69% to $0.1175 with more than 17 million shares traded, compared to volume of 8.33 million shares. The stock moved within a range of $0.1080 – 0.1269 after opening trading at $0.1210.
ILUS Expands Its Wildland Firefighting Growth Strategy
ILUS International aims to have significant manufacturing facilities for wildland firefighting equipment and specialist vehicles in Serbia.
In the current year, extreme wildfires have taken away large tracts of land globally, threatening livelihoods and destroying homes. It is estimated that caused over 400,000 global deaths, a million plus injuries, and billions in business costs. Furthermore, it is estimated that wildfire damage costs about 1-2% of GDP in some high-income countries.
The Serbian manufacturing plant will have facilities for Replay Solutions urban mining, E-Raptor commercial EV manufacturing, specialist drone manufacturing, FireBug firefighting vehicle as well as Wildfire equipment manufacturing.
ILUS Managing Director, John-Paul Backwell said that it is essential to expedite expansion into the wildfire arena. Backwell added that it is the apt time to ramp up dedicated wildfire equipment manufacturing capability for adequate supply.
The Managing Director added that the firm’s patented water-saving technology will be complemented by patented wildland firefighting tools, which are already playing a crucial role in combatting wildfires. Backwell is confident that the company will be an industry leader in wildland firefighting by 2023 end.
Key Quote
“It’s absolutely imperative that we accelerate our expansion into the wildfire arena. With governments spending billions every year to combat wildfires, it’s certainly time for us to ramp up our dedicated wildfire equipment manufacturing capability to adequately supply what will soon be the world’s largest wildfire equipment distribution network. Our patented water saving technology will be complemented by patented wildland firefighting tools and equipment which is already proving instrumental in combatting wildfires. Given the plans we are rolling out, I am confident that ILUS will be the industry leader in wildland firefighting by the end of 2023. I am looking forward to signing off on the final plans for all the divisions in Serbia next week,” said ILUS Managing Director, John-Paul Backwell.
Technical Data
ILUS stock is trading above the 20-Day and 50-Day Moving averages of $0.09 and $0.08 respectively. However, the stock is trading below the 200-Day moving average of $0.16. The company has a total market capitalization of $146.17 million.
